Banks of Singapore Blocked Accounts Belonging to a Number of Cryptocurrency Companies

September 26, 2017

The head of Singapore’s Cryptocurrency and Blockchain Industry Association, Anson Zeall, validated information that 10 large cryptocurrency companies had faced the challenge of access to banking accounts. At the same time, banks did not detail why it had happened.

"We appeal to Singapore to take the initiative and show how to find an effective solution for conciliation," Anson Zeall said.

Unfortunately, Singapore government received no help. More than that, government don't want to break on bank commercial decisions, especially when the matter concerns combating fraud and client protection. To conclude, these aims should be accomplished by banks, besides, banks can choose any necessary methods.